Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy

Nov 27, 2017, 00:41
Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy

Bezos's 78.9 million shares in Amazon are now worth Dollars 93.6 billion.

The founder of the world's largest e-commerce company made almost United States dollars 2.4 billion on Friday alone.

Bezos, the founder and largest shareholder of Amazon, reached the 12-digit milestone for the first time, according to Bloomberg, one of the two major services that track the real-time net worth of the world's richest people.

Mr Bezos is the first person to hit that level since Microsoft co-founder Bill Gates in 1999.

Mr Bezos started Amazon in his basement in Seattle 22 years ago, after he quit his job as a hedge fund manager in NY.

When the financial markets opened on July 27, 2017, the 53-year-old briefly surpassed Bill Gates on the Forbes list of billionaires to become the world's richest person, with an estimated net worth of just over $90 billion. As pointed by the report, online sales increased by 18.4 percentage in comparison to a year ago as reported by Adobe Analytics. It has been a great year for Bezos, who increased his net worth by $32.6 billion in 2017 (so far).

Black Friday sales this year have pushed his net worth up by $2.4 billion making him the newest billionaire with such money. That said, Gates has given a significant amount of his fortune away to charity and in acts of philanthropy. This rise added to the pocket of Amazon's CEO Jeff Bezos, to $100 billion, which is the highest achievement. "I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote in June, but any immediate charitable plans remain unclear.